Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has reported encouraging high-grade gold results from its first reverse circulation (RC) drilling program at the Clone prospect within the Tibooburra Gold Project in northwestern New South Wales. The program, completed in May, involved 14 holes for 1,984 metres, testing 500 metres of strike at Clone, and has returned several notable intercepts.
These include 12 metres at 5.90 g/t gold (Au) from 16 metres, with a peak of 5 metres at 13.74 g/t Au, and 17 metres at 2.40 g/t Au from 59 metres, including 9 metres at 4.14 g/t Au. The results highlight continuity in grade and width, suggesting the presence of a near-surface, north-plunging gold shoot, now defined over 300 metres of strike.
Significant intercepts from Novo (green callout) and Manhattan (white callout) RC drilling programs, dill hole and section location and geological interpretation.
Encouraging continuity of high-grade mineralisation
The high-grade intercepts fill a 180-metre gap between historical drilling by Manhattan Corporation Ltd, demonstrating the continuity of both grade and width across the strike. These results support a shallow, north-plunging shoot of high-grade gold mineralisation, now confirmed over a 300-metre strike length at Clone.
Clone historic workings, geological interpretation and surface rock chip result.
Drilling results have shown consistent gold grades in the near-surface mineralisation, confirming the prospect's potential for further development.
“Results from the RC drill program at the Clone prospect include two intercepts above 40 mxg Au, where drilling has successfully intersected high-grade near-surface gold mineralisation consistent with a shallow plunging shoot,” said Mike Spreadborough, executive co-chairman and acting CEO of Novo.
“The consistency of grade and thickness over a 300-metre strike is very encouraging,” he added. “Follow-up RC drilling to extend gold mineralisation to the north is warranted and is now being designed.”
Further exploration planned at Tibooburra
The company plans to follow up with additional RC drilling to test the northern extension of the high-grade shoot defined by recent drilling. Structural analysis will be key to understanding the controls on mineralisation at Tibooburra, with future work including downhole imaging at Clone, relogging historical core at New Bendigo and mapping the Pioneer-Phoenix trend.
The Tibooburra project also includes several other advanced exploration targets along a 22-kilometre strike, with Novo's team now turning their attention to systematic exploration programs across the full project area.
Tibooburra Gold Project location and tenement map, showing main prospects.
The results from Clone, coupled with similar geological features at New Bendigo, suggest that the broader Tibooburra Gold Project holds substantial potential for further discovery. Historic drilling at New Bendigo has yielded high-grade intercepts, with one notable result of 30 metres at 4.03 g/t gold, including 5 metres at 20.86 g/t gold.
Long section interpretation at New Bendigo by Novo, based on historical data.
Novo’s continued exploration at Tibooburra aims to refine the geological model and better understand the mineralisation controls, approaching the project as a potential orogenic gold system with structural similarities to the Lachlan Orogen’s gold deposits in Central Victoria.
Farm-in agreement and future growth
Novo has met and exceeded its minimum expenditure requirement under the farm-in agreement with Manhattan Corporation Corp., securing a 70% interest in the Tibooburra Gold Project. The farm-in agreement aligns with Novo’s strategy of building a high-quality, diversified exploration portfolio with a focus on projects with multi-million-ounce gold potential.
Novo’s exploration at Tibooburra will continue with additional drilling and structural analysis planned for the coming months. The project adds to the company’s broader portfolio of gold assets, including the Egina Gold Camp in Western Australia, and its ventures in the lithium sector.